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Additionally, I think that your question was more so centered around running video advertising along-side all sorts of search types (universal search), not video search. That being the question, there is NO question that keyword based search advertising is extremely effective (the highest ROI of any other advertising medium - see borrell, kelsey, etc...). Not to mention that we know video advertisments on their own are more effective than typical display ads and textual ads. Therefore, You are correct as are the other panelests in saying that the opportunity is HUGE..
Although the premise she answered may not been about your original question, I also disagree with her and agree more so with the panelists in that advertising for video search will be very effective and lucrative.. Perhaps more so in the near future due to better indexing of video.... etc...
None-the-less, interesting commentary and coverage. Thanks for doing this.